Warning: include() [function.include]: URL file-access is disabled in the server configuration in /usr/home/ms/domains/hurryloan.com/html/answers.php on line 78 Warning: include(http://www.hurryloan.com/rightbar.php) [function.include]: failed to open stream: no suitable wrapper could be found in /usr/home/ms/domains/hurryloan.com/html/answers.php on line 78 Warning: include() [function.include]: Failed opening 'http://www.hurryloan.com/rightbar.php' for inclusion (include_path='.:/usr/local/share/pear') in /usr/home/ms/domains/hurryloan.com/html/answers.php on line 78   Go Back To Search Results Question Are people ever denied HELOC or Home Equity Loans when they have a lot of equity in their home? Say someone wanted a 30K Home Equity Loan and they had 200K in equity in their home. Would they get the loan everytime regardless of credit score and other factors? By mrclam1212 Posted on 05/02/06 Total Answers 3 Answers- Nope credit score, amount of debt, and amount of possible debt (possible debt is if you have a lot of credit card accounts open even though you have no balance the fact you can get a balance hurts your ability to obtain further credit) are all taken into account. Answer by : suzannet79 On Date 2006-05-02 06:00:52 Your ability to repay any amount will be the critical factor. If you have no income, you will not be able to get a loan. If you do have an income and damaged credit, keep shopping you will be able to find a lender who is willing to make the loan. Be careful! Read your disclosures! And Shop SHOP SHOP! Good Luck ~ The Renegade Banker Answer by : The Renegade Banker On Date 2006-05-02 06:49:29 No! Equity alone is not a good enough reason to do a HELOC. However guidelines with this type of equity are very lax, and you can probably find a lender to do this for you. Answer by : cadillacmanron On Date 2006-05-02 14:16:57   Go Back To Search Results